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    MSM_____Tutorial_Sheet__

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    wilfredmukonde1905
    The document is a tutorial sheet containing various mathematical problems related to definite integrals, consumer surplus, producer surplus, and equilibrium price and quantity calculations. It includes specific functions and values for which the reader is required to evaluate integrals, sketch demand functions, and calculate surpluses. Additionally, it discusses the demand functions for two markets and prompts the reader to analyze revenue from these markets.

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    MSM_____Tutorial_Sheet__

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    wilfredmukonde1905
    4 views2 pages
    The document is a tutorial sheet containing various mathematical problems related to definite integrals, consumer surplus, producer surplus, and equilibrium price and quantity calculations. It includes specific functions and values for which the reader is required to evaluate integrals, sketch demand functions, and calculate surpluses. Additionally, it discusses the demand functions for two markets and prompts the reader to analyze revenue from these markets.

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    The document is a tutorial sheet containing various mathematical problems related to definite integrals, consumer surplus, producer surplus, and equilibrium price and quantity calculations. It includes specific functions and values for which the reader is required to evaluate integrals, sketch demand functions, and calculate surpluses. Additionally, it discusses the demand functions for two markets and prompts the reader to analyze revenue from these markets.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    4 views2 pages

    MSM_____Tutorial_Sheet__

    Uploaded by

    wilfredmukonde1905
    The document is a tutorial sheet containing various mathematical problems related to definite integrals, consumer surplus, producer surplus, and equilibrium price and quantity calculations. It includes specific functions and values for which the reader is required to evaluate integrals, sketch demand functions, and calculate surpluses. Additionally, it discusses the demand functions for two markets and prompts the reader to analyze revenue from these markets.

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    © All Rights Reserved
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    MSM 192 Tutorial Sheet 4 May 17, 2023

    1. Evaluate the following definite integrals, correct to two decimal places:


    (a) Z x=3
    (x − 5)dx
    x=1

    (b) Z x=4
    (x3 − 2x)dx
    x=0

    (c) Z x=5 p
    Q(Q2 − Q)dQ
    x=0

    (d) Z x=5  
    4
    4x − dx
    x=1 x
    (e) Z x=9  
    4
    dQ
    x=5 10 − Q
    2. For the following functions, sketch the demand function then shade the
    consumer surplus at the given value of P or Q; and calculate the consumer
    surplus correct to two decimal places.
    (a)
    P = 50 − 4Q, at P = 10
    (b)
    200
    P = , at Q = 9
    Q+1
    (c)
    P = 100 − Q2 , at Q = 8
    (d)
    200
    Q= − 5, at P = 10
    P
    3. For the following functions, sketch the demand function then shade the
    consumer surplus at the given value of P or Q; and calculate the producer
    surplus correct to two decimal places.

    1
    (a)
    P = 5 − 6Q, at P = 29
    (b)
    1
    P = 10 − , at Q = 4
    Q+1
    (c)
    P = Q2 + 4, at Q = 5
    (d)
    Q = −8 + 2P, at Q = 4
    4. The demand and supply functions for a good are P = 50 − 2Q and P =
    14 + 4Q, respectively.
    (a) Calculate the equilibrium price and quantity; confirm your answer graph-
    ically.
    (b) Calculate the consumer surplus (CS) and the producer surplus (PS) at
    equilibrium, correct to two decimal places; shade them on the graph in
    (a).
    5. The demand and supply functions for a good are P = 100–0.5Q and P =
    10 + 0.5Q, respectively.
    (a) Calculate the equilibrium price and quantity; confirm your answer graph-
    ically.
    (b) Calculate consumer and producer surplus at equilibrium.
    6. Mulungushi farm may sell its produce in two different markets; the demand
    100
    functions for the two markets are P = (Q+1) and P = 100–Q2 .
    (a) Graph both demand functions over the interval Q = 0 to Q = 14:
    comment on the revenue from the two markets.
    (b) Calculate the total revenue received from (i) the sale of the first 10 units
    in each market and (ii) the sale of units 8 to 12 inclusive.

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